The Madison St. Claire Record reports
"The Lakin Law Firm filed suit against Certain Underwriters at Lloyd’s London, Lloyd’s Illinois, Affinity Insurance and Norton & Rain alleging the defendants failed to defend the firm in a federal lawsuit.
Represented by Charles Chapman of the Lakin firm, the suit states the Lakin firm hired Norton & Rain Inc. (NRI), an insurance broker, to procure coverages including professional liability insurance for the firm.
"NRI recommended that Plaintiff purchase professional liability insurance coverage from Lloyd’s," states the complaint filed Aug. 3 in Madison County Circuit Court.
Chapman states that the Lakin firm followed the advice of NRI and purchased the insurance from Lloyd’s in 2006 and paid the premium of $427,025 for the policy’s coverage.
According to Chapman, the Lloyd’s policy required the Lakin firm to notify Affinity of any claim made against the firm, which they did after injured railroad worker Stephen Williams filed suit against the firm in the U.S. District Court for the Northern District of Oklahoma on Oct. 7, 2006.
U.S. District Judge Claire V. Eagan, chief judge of the Northern District of Oklahoma, on April 18 entered a default judgment of $3,752,601.80 against Thomas Lakin and the Lakin firm in Williams’ legal malpractice claim. "